April CPI inches up around 0.06pct: minister

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April CPI inches up around 0.06pct: minister

Vietnam consumer price index (CPI) in April edges up about 0.06 percent, said Bui Quang Vinh, Minister of Planning and Investment at a recent meeting.

supermarket Photo: Tuoi Tre

Vinh publicized the CPI data in a discussion session on Friday afternoon, after revealing that it would rise less than 0.1 percent in the supplement socioeconomic report 2011 and plan for 2012 at the meeting of the National Assembly Standing Committee on Friday morning.

Thus, according to the minister, CPI in April will see lower rise against March.

Last month, the CPI increased 0.16 percent, a 20-year low and the lowest CPI rate of March in the last 3 years .

However, with the announcement of the Minister of Planning and Investment, the record-low CPI in March was broken a month later.

According to the Government, the CPI in Q1/2012 has decreased, posting the lowest growth rate over the same period in the previous year.

The implementation of strict measures to tighten money supply and credit growth, and enhance the management of state budget spending and public investment is the main reason for the CPI slowdown.

Another reason is the decrease in the purchasing power of the domestic market, while bumper crops have effectively reduced the prices of agricultural products and foodstuffs.

Besides, the strict implementation of measures to strengthen market and price management, has also contributed to reducing the CPI growth rate over the last time, according to the Government's report.

Regarding the measures to perform the targets in 2012, the government said it will carry out tight and cautious monetary policy toward ensuring the proactive flexibility and harmony between monetary policy and fiscal year policy to curb inflation in 2012 at about 8 to 9 percent.

The CPI of Hanoi for the first time after a long period has increased at negative rate, -0.03 percent, in April compared to March, the bottom rate in the last 10 years,according to Hanoi statistics office.

The Hanoi CPI rate posted a 24-month low, making the figure to increase by 9.25 percent year on year.

As many as 8 out of 11 groups of commodities factoring the calculation of the index saw the price hikes this month but in a low level, the statistics office said.

The CPI increase of Ho Chi Minh in April was at 0.08 percent, a 20-month low, bringing the year-on-year rate to 9.68 percent.

As many as 6 out of 11 groups of goods and services included for the CPI calculation saw the price increase in April, said the municipal statistics office.

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